Forum Replies Created
Thanks mate,
Real helpful
easymoney
Thanks G7, I’ll give that a go
Regards
easymoney
Bummer, not what I wanted to hear.
Sounds like I’ll have to get my sister to buy it n I’ll pay her $7 0000 for her troubles.
Putting it in the girlfriends name could be a risky investment.Regards
easymoney
Hi guys,
Just a thought, I bought my 4 bedroom house in 2002. I owe $60 000 and I remorgaged at an apprasial of $200 000 in April. I own a two bedroom in Coober Pedy outright and have $70 000 equity left.
If I reno my house it should be worth 200-220 a week in rent with repayments being $413 a month.
Is it true that I can rent it out and pay no capital gains tax as long as I sell it within 6 years.
I am hopeing this is the case as I want to buy a cheap PPOR with my equity n then some, and do another reno job. Sell it buy another cheap PPOR and continue the cycle.
Thanks guys
Regards
easymoney
Hi guys,
I’m interested, what’s the new 11 second solution?
I’m a poor single parent so I couldn’t justify $500 for a ticket, even though I would have learnt so much.
Thanks guys
easymoney
thanks guys
try that now
easymoney
Just been looking at broken hill and properties there are no longer positive cashflow. At least not without making improvements, spending time and money.
easy
Hi nspeed,
I own an IP in Coober Pedy. It cost me $45 000 and it makes $100 pw giving me good returns.
It is near Roxby Downs which is a mining area. My tenents have lived there since June 1994.
So I have great tenants, great returns and a great PM. Their fees are a little high 11% but there’s not much you can do about that in a remote area.
Regards
easymoney
Quiggles my God,
I have PM’d you. My finances are tight but if I can afford it I’m there. I decided NZ after starting this thread but if I can raise enough money I will be there.
Regards
easymoney
Hi Brad,
I’ll juat go find my bank account details for you. I will invest it wisely for you. Mabey buy a Ferrai.[biggrin]
easymoney
Hi Bekstar,
I can’t make the 14th sorry but it sounds like Kurra is on top of the situation.
Hope you have a good introduction, and post all about it and what you guys have come up with after the first meeting.
Regards
easymoney
Hi guys,
I’ve been offline for a few days but I’ve just replied to your PM’s.
One guy has told me we can get a huge online airfare discount if we book 10 group seats or more so lets hope the interest stays high.There are a few Sydneysiders who want to start meeting so if there is anyone living in West Sydney around Liverpool and you would like to hold the first meeting could you please let me know.
As I live in Goulburn I don’t want to be travelling to the other side of Sydney and the further north or east I travel the more chance I have of getting lost.easymoney
Hi guys,
I’ve just read the latest messages. I personally think a monthly meetings is a great idea.
I live in Goulburn and have just started attending a Canberra group but it would be good if we could form a US minded group around the Sydney to Goulburn area.Bekstar, with a brother as a lawyer and a property investor in the US I can see you are going to be my new best friend. Your brother will probably be able to teach us more than anyone in the group. Welcome aboard.
Where abouts are you from Kurra, I’m hopeing near Sydney somewhere.
The reason I thought August as opposed to June is I want to do a lot of research on the area before I go over there, such as you mentioning lead paint. That is more reading I have to do now. I am a single parent so I need more time to save money as it will cost me 1 to 2 thousand to have 2 children to be babysat for three weeks.Hope you can make it Pete.
With responses here and PM’s, there is about 10 keen people wanting to travel to the US as a group, although a few have pulled out due to needing cash up front to pay for the properties.
PM me guys if you are interested in a monthly US meeting and include where abouts you are from so I can determine the best place to hold a meeting.
I assume it will be in Sydney somewhere.
Anyone else interested in the US feel free to post a reply or PM me even if you don’t live in NSW, you can form your own group interstate and we can meet at the airport when we are all heading to Buffalo.easymoney
Thanks Anne,
You’ll have to make a post down the track if ya can do any better, i’ll have to do the same.easymoney
Hi Veronica,
I was looking at buying two mobile homes in Roxby Downs, near Coober Pedy but I had a change of heart after some due diligence i undertook.
The property would make a before tax profit of $60 per week but when it’s untenanted the site fees for the park alone are $100-110 per week.Also you can’t get a home loan for a mobile which means you need equity in your home which could be used as deposits on a few propertis or have a lot of cash saved up
On top of that the park owner can hike up the fees or ask you to move the mobile home off his land.
This happened to my parents who owned a caravan and annex on the NSW coast. There were about 40 people in one area who were all given notice that their caravans had to be moved off the premises.
So there is a higher gain to be made, but like Anne said the risk is much higher as well in these single industry towns.
easymoney
Hi John
http://www.somersoft.com/forums/showthread.php?t=18101 This link you have already been given will show that it’s virtually impossible to get finance in the US so I hope you have a lot of equity.
easymoney
Hi Mike,
Terry got it in one. Never discuss it with the tenant as naturally no one ever wants to pay more money out of their pocket than what they have to.
If this is the first time you’re putting the rent up in two years then they should realise when they get the letter that they’ve had it pretty easy anyway.
easymoney
Hi Steve,
Thanks mate I’ve PM’d you and asked to be added to the mailing list so I’ll probably be meeting you soon.
easymoney[biggrin]
Originally posted by foundation:
That’s $3,000 per fortnight in repayments! What happens in the event of a vacancy? If interest raties rise by 1%, where are they going to get the additional $390 per fortnight to keep their heads above water?foundation, what are raties???
I know what rates are but what are raties???easymoney[biggrin]
Hi Mat,
I would buy the property now as if you buy +ve CF It will start to make money now not in two years time when you return.
There are many people on this forum who own property in New Zealand, the US, Uk etc, so you don’t need to be in the country to manage your property if you have a good PM.
If you buy now you should know how reliable your PM is before you go. Also you could probably get a family member to help run the show while you’re gone.
Have fun in Hong Kong
easymoney
